Financial Inclusion


 
 
Concept Explanation
 

inancial Inclusion

Financial Inclusion: Financial inclusion is the delivery of financial services at an affordable cost to the vast sections  disadvantaged and low profile groups of the society. So, financial infusion helps vulnerable groups such as low income groups, weaker sections, etc. to increase income, acquire capital, manage risk and work their way  out of poverty through secure savings, appropriately priced credit and insurance products and payment services.

KYC (Know your customer) regulation has been introduced in Financial Transactions under the Prevention of Money Laundering Act Regulation. The Reserve Bank of India introduced KYC guidelines for all banks in 2002.

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Sample Questions
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Question : 1

Know Your Customer (KYC) regulations have been introduced in financial transactions under the regulation of _____________

Right Option : C
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Explanation
 
 


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